RE: Buyback update13 Jun 2022 18:18
Loyal staff lol
From Bloomberg Lloyds Banking Group Plc will pay staff an additional £1,000 this summer as the cost of living spirals in the UK. Britain’s biggest mortgage lender will make the onetime payment in August to 64,182 employees -- covering all staff apart from senior executives -- according to an internal memo seen by Bloomberg. The bank’s move comes with inflation spiking across much of the global economy. In the UK, prices are rising at the quickest pace in 40 years, adding pressure to household budgets and depressing consumer confidence. In April, the growing cost of energy helped send the consumer prices index to 9%, while the economy shrank 0.3%. The extra pay, costing Lloyds about £64 million, is in addition to budgeting advice and conversation with money experts under the bank’s relaunched Healthy Finances Hub program. “And as we commence our preparations for our 2023 pay negotiations in the coming weeks we’ll continue to take the current economic environment into consideration.